Dalal Street Gears Up For Three IPO Launches Tomorrow, Aims To Raise Over Rs 1,600 Crore

The market will be abuzz on the final day of the week tomorrow with the launch of three IPOs. Opening for subscription on August 4, three IPOs - Concord Biotech, Yudiz Solutions, and Sangani Hospitals - have set their sights on collectively raising over Rs 1,600 crore, report MoneyControl. The companies operating in the biotechnology, IT solutions, and healthcare sectors are raising funds for purposes, such as expansion in their respective industries and funding general corporate requirements.

The only public offering in the mainboard segment is Concord Biotech, a biotechnology company.  The Rakesh Jhunjhunwala's RARE Enterprises-backed Concord plans to raise Rs 1,550.6 crore through its maiden public issue.

However, the IPO only comprises an offer for sale by Helix Investment Holdings Pte Limited, a company backed by Quadria Capital. Helix is selling its entire 20 per cent stake (2.09 crore shares) in the Ahmedabad-based pharma company. Concord Biotech will not be receiving any proceeds from the offer.

The price band for Concord Biotech's IPO has been set at Rs 705-741 per share, and the subscription window closes on August 8. Additionally, the offer includes a reservation of up to 10,000 equity shares for the company's employees, who will be entitled to these shares at a discount of Rs 70 per share from the final offer price. 

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The other two IPOs belong to the SME (small and medium enterprise) segment.

First is Yudiz Solutions, an IT solutions and consultancy firm, aiming to raise Rs 44.84 crore at the upper price band. This IPO consists of only a fresh issue of 27.17 lakh equity shares, with no offer-for-sale portion. Yudiz Solutions' IPO is a book-building SME issue, with a price band set at Rs 37-40 per share.

The entire offering is solely a fresh issue, and the company intends to utilise the funds raised for acquisition, development of new products and technology, networking and cabling, and branding and marketing of the company. The money will also be used for capital expenditure and working capital requirements.

The third IPO will be Sangani Hospitals, with subscription opening from August 4 to August 8, aiming to raise Rs 15.17 crore through a public issue of 37.92 lakh equity shares. As a book building SME issue, the IPO is priced within a range of Rs 37 to Rs 40 per share.

Notably, this IPO comprises only fresh shares, and the funds raised will be utilised by the company for expanding its hospital operations, in addition to general corporate purposes.